Ares Leads $3.3 Billion Private Loan for UK Insurance Broker Ardonagh at Low Rate
Ares Management Corp. is leading a $3.3 billion private credit loan for UK insurance broker Ardonagh Group Ltd., with the debt’s pricing among the lowest seen in direct lending, people with knowledge of the matter said. Ardonagh’s loan is set …
JPMorgan, State Street Quit Climate Group, BlackRock Steps Back
JPMorgan Chase’s and State Street’s investment arms on Thursday both quit a global investor coalition pushing companies to rein in climate-damaging emissions, while BlackRock said it has transferred its membership to its international arm, limiting its involvement. The decisions together …
Cyber Risk Management Specialist KYND Secures New Funding for Global Growth Plans
KYND, the London-based provider of cyber risk management solutions, has disclosed “a substantial investment” to propel expansion and further growth. The investment comes from Verisk, a leading global data analytics and technology provider, and existing backer BGF, one of the …
Under New Owners, Florida’s TRUE Gets Slight Downgrade, Withdraws From AM Best
Six weeks after Trusted Resource Underwriters Exchange, a Florida-based reciprocal property insurer, announced it had received a $1.25 billion capital investment and new majority ownership, the AM Best rating firm has slightly downgraded the exchange’s financial strength and credit ratings. …
Waymo Recalls 444 Self-Driving Vehicles Over Software Error
Alphabet’s Waymo unit has recalled 444 self-driving vehicles after two minor collisions in quick succession in Arizona because a software error could result in them inaccurately predicting the movement of a towed vehicle. All of the vehicles are in the …
Georgia, NC Women Face Insurance Fraud Charges After Auto Accident Claims
Georgia law enforcement authorities were searching for a Lawrenceville woman who allegedly submitted fabricated medical records in an auto insurance claim in an effort to collect $15,000, the state insurance commissioner said. The insurer was not named in the bulletin …
US Offers Up to $10M Reward for Info Leading to Leaders of Notorious Ransomware Gang
If you’ve got information on one of the world’s most prolific ransomware gangs, you could stand to make a cool $10 million. The Department of State on Thursday announced a reward of up to $10 million for anyone who can …
Maryland Issues Insurance Scam Warning for Businesses
The Maryland Insurance Administration (MIA) is warning of an insurance-related scam targeting small painting, construction, and cleaning businesses. MIA advises businesses that are contacted by anyone offering to purchase general liability or workers’ compensation insurance to not give out any …
Canada’s Co-operators Enters Home-Services Business With Carson Dunlop Purchase
Co-operators Financial Services Ltd. announced the acquisition of the parent company of Carson Dunlop & Associates Ltd., a consulting engineering firm that provides advice to help homeowners make better, more informed decisions about their homes, while also providing education and …
New Bill Would Still Permit Smoking in Atlantic City Casinos But With More Restrictions
Atlantic City casinos would be able to continue to allow gamblers to smoke on the casino floor under a new bill that would impose additional restrictions on lighting up. New Jersey state Sen. John Burzichelli introduced a bill Monday giving …
Pennsylvania’s State Courts Restore Website Services Disrupted by Cyber Attack
The Pennsylvania state court system has restored all of its digital platforms that were disrupted by a February 4 cyber attack. In an update, Chief Justice Debra Todd reported that the system’s news, statistics, court opinions and the civics educational …
People Moves: Swanick and Hayes Join Centri; Haan Heads World Insurance HR; Carson Joins Risk Strategies
Swanick and Hayes Join Centri Centri Business Consulting, headquartered in Philadelphia, hired John Swanick as senior director and Joe Hayes as managing director to lead its insurance practice. Swanick and Hayes bring over 70 years of combined insurance and financial …
South Africa’s President Will Sign Health Insurance Bill Into Law
South Africa’s President Cyril Ramaphosa said on Thursday that he planned to sign into law a National Health Insurance (NHI) bill that aims to provide universal health coverage to South Africans, although he did not give a time frame. The …
Russia’s Aeroflot Finalizes Insurance Settlement for 7 More Planes
Russia’s Aeroflot has finalized insurance settlements with leasing companies for seven more planes, it said on Friday. Planes leased by Russian airlines from foreign leasing companies have been in limbo since sanctions were imposed over Russia’s military campaign in Ukraine …
Shaw Appointed CEO of Tokio Marine Kiln, Succeeding Irick
Specialty insurer Tokio Marine Kiln (TMK) announced the appointment of Matthew Shaw as CEO, with effect from April 1, subject to regulatory approval. Shaw will succeed Brad Irick who is taking up the position of co-head of international business for …
US and Allies Kick Russian Hackers Off Home Routers, FBI Says
The US and its allies have disrupted access by a Russian-state sponsored hacking organization to “well over a thousand home and small business routers” used for criminal and intelligence purposes, FBI Director Christopher Wray said on Thursday. Speaking at the …
Over 350 People Contact Law Firm Reviewing FDIC Workplace Culture
More than 350 people have contacted an outside law firm reviewing workplace culture at the U.S. Federal Deposit Insurance Corporation in the wake of media reporting last year on allegations of persistent sexual harassment, top agency officials said on Thursday. …
Hackers Exploit Ad Tools to Track Victims, Boosting Scam Efforts
Cybercriminals are using advertising tools to make their scams as “clickable” as possible. In a new kind of email phishing tactic, hackers are sending malicious PDF attachments containing a link that’s registered through an advertising network, security researchers from HP …
Palomar Insurance in Alabama Names Messer VP; Carofin Elevates Clifford
Palomar Insurance Corp., based in Montgomery, Alabama, announced that Shon Messer has joined the company’s Birmingham office as vice president. Messer, who spent 16 years at DSD Insurance, an Acrisure agency partner, and 11 years with Allstate before that, will …
Symphony Risk in California Launches Captive Program for Cannabis Industry
Symphony Grow is launching a bespoke captive insurance program for large and sophisticated cannabis businesses called “Symphony Grow Captive.” The “Symphony Grow Captive” risk financing tool provides a breadth of benefits not commonly afforded to cannabis businesses due to the …
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